Fed calls for two hikes

Dallas Federal Reserve President Lorie Logan said the Fed needs to raise interest rates at least twice more, by 25 basis points each time, to bring inflation down to its 2% target. Her call came after the Fed held rates steady this week at a range of 3.75% to 4%. Logan supported the pause for now to allow time to assess economic and financial developments. She believes gradually raising rates gives households and businesses time to adjust and reduces the risk of causing unnecessary harm to economic activity.

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